California residents who are looking into estate planning may be interested in one type of trust that can help to avoid probate while giving the person control of their money during their lifetime. This trust, however, is not without its drawbacks. Trusts are estate...
Do I need a probate attorney?
Year: 2014
Relocation may necessitate revisiting estate plans
As many California residents know, moving -- whether for a job, school or retirement -- has become a way of life for many Americans. While moving may herald an opportunity or the realization of a lifelong dream, it may affect one's estate plans in unexpected ways.An...
The effect of moving across state lines on estate planning
Orange County residents who intend to move out of California, or those who contemplate a relocation to the Golden State, may find that their new address adds complexity to their estate planning. It is often best to revise a will, trust or other estate planning...
What happens to credit card debt when someone dies
When a person dies, all their property becomes part of an estate. A person's debts do not simply go away when a person dies. Credit card debts usually must be paid out of these assets before any of the assets can be distributed to heirs. Typically, debts are paid out...
Planning considerations highlighted by Lou Reed’s estate
Music fans in California may be interested in the execution of the estate of Lou Reed. According to reports, it has reportedly brought in more than $20 million since his death on Oct. 27, 2013. The probate court in Manhattan reported that the musician's estate is...
Families fight in courts over wills
In years past, wills were rarely contested by family members, as this was seen as a way of dishonoring the decedent. However, more siblings and other relatives are suing in California courts over wills that they believe do not provide them with their fair share of the...
When to revise estate plans
California residents may be interested to learn that only approximately half of senior citizens have created a will to distribute their assets. The number of adults with a comprehensive estate plan is even lower. Some people are not aware of the importance of creating...
Deciding how assets will be managed and transferred
Residents of California nearing the age of retirement may be wondering how they should arrange for their property and assets to be passed on in the event that something happens to them. A revocable trust may be a good way for individuals to provide for the...
Trusts as estate planning tools
Many California residents consider trusts to be an essential part of their estate plans. Trusts allow people to set the terms of how money should be spent by the beneficiaries, as well as appoint someone to oversee the assets, which can be an attractive option when...
Single individuals face challenges in estate planning
Many single and childless individuals in California will face the complex and open-ended question of how to settle their estate after they die. There are approximately 17 million Americans over the age of 65 who are unmarried. In addition, financial advisers and...
